Home Highlights July 2013 Year 2013 This

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1. Reverse charge mechanism on commission paid to foreign commission agents does not attract service tax liability. Documentary evidence shows no direct payment made to...

2. Export turnover brought into India does not qualify as 75% of total turnover for claiming exemption u/s 10A. Expenditure incurred in foreign exchange must be excluded...

3. Addition on account of Business Promotion Expenses - personal element in the business promotion expenses to the extent of 10% of the total expenses cannot be ruled out.

4. Foreign tour expenses - Expenses for business purpose or not – assessee failed to demonstrate that trips undertaken by the Directors of the assessee company was for the...

5. The notification amends the export policy for Non-Basmati White rice under HS code 1006 30 90 from 'prohibited' to 'free', subject to a Minimum Export Price of USD 490...

6. Levy of GST - export of pre-packaged and labelled rice - In the instant case, the ultimate buyer is not present and the commodity is being pre-packed for an unknown...

7. Supply or not - Rotary Club - meeting expenses - The meetings conducted by the applicant which includes food, refreshment, etc. are nothing but activities carried out by...

8. Sales promotion expenses - expenditure with respect to the gold chains being distributed - expenditure allowed - AT

9. Imposition/levy of entertainment tax by the petitioners - admission fee in the form of ticket to allow people to visit trade fairs / Pragati Maidan - There are regulated...

10. Disallowances of centenary celebration expenses, gift distribution and interest relief to society expenses - The expense incurred on account of relief fund to celebrate...

11. SCOMET Export permission for ‘Stock & Sale' purposes and for export of spare parts - Public Notice

12. Disallowance of foreign travelling expenses of Directors - Assessee may have started a new line of business, but the particular visit of London does not appear to be for...

13. Allowability of deduction u/s 37(1) of the Act - Amount of service tax included with interest – expenses have direct nexus with the business operation - expense allowed - HC

14. Rebate claim for refund of service tax rejected - Export of consignment of garnets extracted from illegally mined sea sand - Export incentives not granted for proceeds...

15. TDS on demurrage reimbursed by the assessee to the foreign buyer to compensate the foreign buyer for paying demurrage to the ship owner - Income cannot be deemed to...